recovery is clearly underway, however the game is changed, and the
generations are going to be suffering in different ways
the baby boomers who thought they were setting up their retirements
by buying anything they could possibly spend their money on until
finally making that incredibly stupid bet of buying real estate when
the quickly rising prices made them think it was becoming a better
deal (ignorance on display) are now going to be one of the brokest
generations in recent history and will be drag on the economy for 2-3 decades
the younger generations who will be paying down the debt that was
fueled by the "lower my taxes and increase my benefits" mindset of
the last twenty years will suffer tremendously & will probably never
experience the economic growth many of us born in the 40s-50s have
resulting in a lowered quality of life for them
a third factor is that the jobs that were lost are never coming back
and what jobs do come back will be lower wage jobs adding to the
burdens of these generations
economic growth as we experienced from 1945-2000 is a thing of the past
At 04:25 PM 3/5/2010, Bruce Hershenson wrote:
This has nothing to do with movie posters, but I was wondering if
any of you are wondering (as I am) if the government may be lying to
us. I mean, in totalitarian countries, the governments used to
endlessly broadcast good news, and record harvests, and increased
production, in the hopes that people would swallow it.
Lately, the government has been telling us that economic conditions
are getting better, and that the recovery is under way, and I am
thinking, "Who I am to believe, the government, or my own lying eyes?".
What say you?
Bruce
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